What is 'Off Plan' Property?

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>> What is Off Plan Property?

>> FAQs

>> Investment strategies

>> The off-plan buying process

>> Why buy off-plan property?

>> Off Plan property pitfalls

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By buying property 'off-plan', you are purchasing a property based on the drawings, floor plans, impressions and proposals submitted by the developer. Often, the property will not even have been started to be built.

Types of Off-Plan property include:

• residential and commercial buildings
• apartments, condos and houses
• commercial units
• 'resort properties' (e.g. golf clubs)

Why buy property off-plan?

The recent poor performance of the stock market and pension funds has led to many people turning to property as a sound financial investment. The main advantage to buying property off-plan is that you will be able to buy the property at a much cheaper price than if you were to buy it completed, however there are many other benefits:

• Off Plan property is cheaper than normal property. You can often get discounts of up to 20%
• It only requires a low deposit (typically 5-10%)
• You can get a high return on your investment by locking in today's prices for a purchase carried out in the future
• You can sometimes give input and make requests to change aspects of the final design and layout
• Payments are staggered easing cash flow
• You can get in early and negotiate the best price on a development
• Many off-plan schemes will guarantee a rental income for a fixed period thus lessening your risk.
• Investing in off-plan property is very flexible and there are many various investment strategies which buyers can employ. Once the property is completed, it is up to you what you do with it - you could move in yourself, rent it out or sell it on for a quick and easy profit.
  

The poor performance of the stock market has led to many people turning to property as a sound investment

>> Read more about the benefits to buying property off plan

>> This guide sets some of the pitfalls to avoid

>> Search for off plan property in the UK for free (no registration required)